Gladstone Capital (NASDAQ:GLAD) Hits New 52-Week High – Time to Buy?

Gladstone Capital Co. (NASDAQ:GLAD)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $25.20 and last traded at $25.05, with a volume of 29085 shares traded. The stock had previously closed at $24.91.

Analysts Set New Price Targets

Separately, B. Riley assumed coverage on shares of Gladstone Capital in a report on Wednesday. They issued a “neutral” rating and a $23.00 target price on the stock.

Gladstone Capital Trading Down 1.8 %

The company has a fifty day simple moving average of $23.48 and a two-hundred day simple moving average of $22.86. The stock has a market capitalization of $536.02 million, a P/E ratio of 8.93 and a beta of 1.26. The company has a quick ratio of 0.02, a current ratio of 0.02 and a debt-to-equity ratio of 0.15.

Gladstone Capital (NASDAQ:GLAD) last released its quarterly earnings data on Wednesday, August 7th. The investment management company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. Gladstone Capital had a return on equity of 10.87% and a net margin of 78.40%. The business had revenue of $25.69 million for the quarter, compared to analysts’ expectations of $24.69 million. On average, sell-side analysts expect that Gladstone Capital Co. will post 2.14 earnings per share for the current year.

Gladstone Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th will be issued a $0.165 dividend. This represents a $1.98 annualized dividend and a dividend yield of 8.04%. The ex-dividend date is Friday, December 20th. Gladstone Capital’s dividend payout ratio (DPR) is presently 71.74%.

Institutional Investors Weigh In On Gladstone Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in GLAD. Legacy Capital Wealth Partners LLC bought a new position in Gladstone Capital during the 2nd quarter worth about $1,723,000. Kovack Advisors Inc. grew its holdings in shares of Gladstone Capital by 1.2% during the first quarter. Kovack Advisors Inc. now owns 69,602 shares of the investment management company’s stock worth $747,000 after buying an additional 856 shares in the last quarter. Atomi Financial Group Inc. grew its holdings in shares of Gladstone Capital by 10.4% during the first quarter. Atomi Financial Group Inc. now owns 27,748 shares of the investment management company’s stock worth $298,000 after buying an additional 2,612 shares in the last quarter. nVerses Capital LLC acquired a new stake in Gladstone Capital in the 2nd quarter valued at approximately $37,000. Finally, Good Life Advisors LLC lifted its stake in Gladstone Capital by 101.2% in the 3rd quarter. Good Life Advisors LLC now owns 17,850 shares of the investment management company’s stock valued at $429,000 after acquiring an additional 8,979 shares in the last quarter. 10.72% of the stock is currently owned by institutional investors and hedge funds.

About Gladstone Capital

Gladstone Capital Corporation is a business development company specializing in lower middle market, growth capital, add on acquisitions, change of control, buy & build strategies, debt refinancing, debt investments in senior term loans, revolving loans, secured first and second lien term loans, senior subordinated loans, unitranche loans, junior subordinated loans, and mezzanine loans and equity investments in the form of common stock, preferred stock, limited liability company interests, or warrants.